Canadian Health Care is guided by the provisions of the 1984 Canada Health Act. Under the health care program, health benefits include preventive care and early detection which are considered important and so are yearly check ups. For reasons in the past, the CHA’s definition of insured services are restricted largely to care that is done in hospitals or a doctors office. Insurance benefits hope that early detection will extend life expectancy plus quality of life, plus reduces overall costs.
Employees can receive employee benefits as well. At leastt 50 percent of businesses in Canada are concerned with the level of coverage for their employees. Canadians can take advantage of small business health insurance tax credit for small business health insurance as well. Small business health insurance tax credit is money that can be saved while paying for health insurance. While seventy five percent of Canadian residents have some form of private health insurance, a lot of residents receive it through their employers. Small business health insurance tax credit benefits employees that may need to receive extra medical attention but normal health insurance will not be able to cover it all, and need help with extra credit towards bills.
Canadian residents benefit from small business health insurance tax credit because not only does it come as a health insurance credit, but is eligible for a refund as well, if the credit is not needed for medical reasons. There are many different parts that go into small business health insurance tax credit and differ per employer and business but all around is a beneficial program to look into.